FuboTV, the sports-first live TV streaming platform, has reported its financial results for Q4 and full year ended December 3st, 2024. The company closed the full year 2024 in North America with record total revenue and paid subscribers, achieved its first quarter of positive free cash flow and improved key profitability metrics by over $100 million (€96.06m) on an annual basis for the second consecutive year.
Fubo delivered full year 2024 results in North America of $1.58 billion in total revenue, up 19 per cent YoY, and 1.676 million subscribers, up 4 per cent YoY. Fubo closed the fourth quarter with $433.8 million in total revenue, up 8 per cent YoY, in North America, achieving its guidance. Average revenue per user (ARPU) in the fourth quarter was $87.90 in the region, an all-time high and an expansion of 1.4 per cent YoY.
In the Rest of World (ROW), the company delivered $9.4 million total revenue, up 12.1 per cent YoY, and 362,000 paid subscribers, down 10.9 per cent YoY. ARPU reached $8.50, up 24.8 per cent YoY. ROW includes the results of Molotov, the French live TV streaming service acquired by Fubo in December 2021.
In a letter to shareholders, CEO David Gandler and Executive Chairman Edgar Bronfman Jr, said: Our fourth quarter and full year 2024 results reflect our company’s high-quality execution, resilience amidst industry transformation, and steadfast commitment to the consumer. We enter 2025 with pride in our results, meaningful improvements across nearly every aspect of our business, and excitement about our momentum.”
“In 2024, we delivered North America revenue of $1.588 billion and subscribers of 1.676 million, both record-breaking metrics for our company, representing 19 per cent and 4 per cent year-over-year growth, respectively. Notably, on a full-year basis, we achieved year-over-year improvements in both Net Loss and Adjusted EBITDA of $115 million, Net cash provided by operating activities of $97 million, and Free Cash Flow of $104 million. This means we have improved Adjusted EBITDA and Free Cash Flow by over $100 million each year for the past two years, a significant achievement by the company.”
“A key priority remains providing users with an exceptional experience characterised by quality, innovation, compelling content, and ease of use, and in 2024, we made strategic investments to support these goals. These investments have already started to yield results, and we believe they will continue to deliver significant value for all our stakeholders. For example, through our investments in product, infrastructure, and streaming quality we drove North America viewership to over 1.7 billion hours in 2024, our highest year yet. Furthermore, according to Comscore, Fubo ranks among the US’s top 10 most-watched video services in 2024, alongside Spectrum TV, ESPN and Netflix. 2024 marked the first time Fubo appeared in the top 10, ranking above 40 other video services including Pluto, Prime Video and Tubi.”
“We are also thrilled with the agreement signed earlier this year with The Walt Disney Company to combine Hulu + Live TV with Fubo. We believe this is a game-changing opportunity to establish a leading streaming company that prioritises consumer choice, flexible packages, and a cutting-edge experience. We will continue to provide periodic updates as the transaction progresses. In addition, we entered into new carriage agreements that will allow Fubo to create a new Sports & Broadcasting service tailored to sports fans, which we are excited to bring to market by the fall 2025 sports season,” the letter concluded.